Every October for the last 19 years we have presented the results of the Malta Attractiveness Survey, which delve into the country’s strengths, weaknesses, opportunities and threats. Over the years, we have seen some constants and some shifts, in some instances gradual and in others abrupt. This year, we will be presenting our 20th survey.
This year’s edition also coincides with the 20th anniversary of Malta’s EU accession. EU membership has been a key catalyst for investment, opening doors to new markets and opportunities. Twenty years on as an EU member state, Malta finds itself at the crossroads of growth and sustainability. With the highest GDP growth in Europe, record tourism and a rapidly growing population, we are poised for unprecedented expansion.
Yet, the strain on our infrastructure is palpable.
As we do every October, this year we are convening Malta’s business community to explore the challenges as well as the opportunities the country is facing. Besides presenting the results of the 2024 attractiveness survey, we will be presenting other elements of research which our teams have been undertaking: an update on the infrastructure readiness study which we presented in 2023, our youth ‘Generate survey’ and more.
Beyond presenting the various survey results, we want to create a forum to debate and present solutions. We are, therefore, planning this year’s event around five key themes namely Build, Share, Engage, Generate and Change – a series of debates to tackle the growth dilemma by looking at the inevitable need to build more infrastructure, the potential for sharing, the opportunity to deploy technology and that of making the most of what Malta’s youth has to offer.
Build: As Malta’s physical and social infrastructure grapples with gaps, the need for sustainable models is urgent. We must unlock private sector resources and savings to fund impactful projects. ‘Build’ will focus on identifying the most urgent gaps and exploring sustainable ways to fund and develop an infrastructure that can support Malta’s growing population and tourism sector.
As artificial intelligence transforms the world, Malta must seize this opportunity- Ronald Attard
Share: With the scale of infrastructure investment required, avoiding duplication and redundancy is paramount. Sharing may offer a strategic solution, reducing costs and streamlining investments. ‘Share’ will explore the role of shared infrastructure across various sectors in creating a more interconnected and efficient economy.
Engage: As artificial intelligence transforms the world, Malta must seize this opportunity. AI offers the potential to do more with less, driving innovation across all sectors. ‘Engage’ will explore how Malta can accelerate AI adoption, understanding its profound implications for business and society.
Generate: The future of Malta lies in the hands of its youth. Their perspectives on infrastructure, urban planning, quality of life and the economy are crucial for long-term success. ‘Generate’ will focus on capturing their voices and ensuring they are central to strategic planning.
Change: Climate change demands immediate and coordinated action. ‘Change’ will focus on exploring how the action we take today will lead to four very different futures. We will visualise and prepare for various climate scenarios, emphasising the necessity of proactive climate strategies.
Malta stands at a pivotal moment, and the decisions made today will shape the country’s trajectory for decades to come. We believe that the themes of Build, Share, Engage, Generate and Change provide a comprehensive framework for addressing current challenges and preparing for the future.
By convening 1,000 of Malta’s top decision-makers across politics, business, academia and civil society, alongside key local and international investors, the ‘EY Future Realised Malta 2024’ event seeks to catalyse action and investment to ensure Malta not only meets today’s demands but also thrives in the decades ahead.
Scheduled for October 23 at the Mediterranean Conference Centre, in Valletta, this event, ‘Envisioning Tomorrow, Today’, will bring together leaders, experts, policymakers and community members to envision Malta’s future and discuss practical solutions.
As we convene for ‘EY Future Realised Malta 2024’, join us as we work together to build a sustainable and prosperous Malta for the next 20 years and beyond.
Ronald Attard is EY country managing partner, Malta and Cyprus and EY strategy and transactions regional managing partner, Central, Eastern, Southeastern Europe and Central Asia.